Swedbank AB Acquires 11,774 Shares of Waste Connections, Inc. (NYSE:WCN)

Swedbank AB raised its holdings in Waste Connections, Inc. (NYSE:WCN) by 40.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,806 shares of the business services provider’s stock after acquiring an additional 11,774 shares during the quarter. Swedbank AB’s holdings in Waste Connections were worth $7,297,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at $36,000. Asset Dedication LLC bought a new position in Waste Connections during the third quarter valued at about $41,000. Pathway Financial Advisers LLC acquired a new stake in shares of Waste Connections in the first quarter worth about $43,000. Signature Resources Capital Management LLC acquired a new stake in shares of Waste Connections in the second quarter worth about $45,000. Finally, Kennebec Savings Bank bought a new stake in shares of Waste Connections during the 3rd quarter worth about $47,000. 86.09% of the stock is owned by institutional investors.

Waste Connections Price Performance

Shares of WCN stock opened at $193.25 on Wednesday. The firm’s 50 day moving average price is $181.46 and its two-hundred day moving average price is $178.11. The stock has a market cap of $49.87 billion, a PE ratio of 53.09, a PEG ratio of 3.17 and a beta of 0.72. Waste Connections, Inc. has a 52-week low of $132.15 and a 52-week high of $194.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. As a group, analysts forecast that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a dividend of $0.315 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.65%. Waste Connections’s dividend payout ratio (DPR) is presently 34.62%.

Wall Street Analysts Forecast Growth

WCN has been the subject of several analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $205.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, October 25th. Eight Capital upgraded shares of Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Oppenheimer raised their target price on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Scotiabank began coverage on shares of Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price for the company. Finally, Citigroup raised their price target on Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.